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EP COMMITTEE FINDS HUNGARY SHOWS TRAITS OF TAX HAVEN

 

Hungary is among seven European Union countries that “display traits of a tax haven and facilitate aggressive tax planning”, according to a finding by the European Parliament’s Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance (TAX3). The finding was among conclusions in a package of recommendations approved by MEPs on Tuesday after a one-year inquiry. The other six countries are Belgium, Cyprus, Ireland, Luxembourg, Malta and the Netherlands. Among the recommendations in the package are ones to start work on a proposal for a European financial police force and an EU financial intelligence unit, as well as the establishment of an EU anti-money laundering watchdog.